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Posted by: thepinetree on 01/05/2021 03:04 PM Updated by: thepinetree on 01/05/2021 03:04 PM
Expires: 01/01/2026 12:00 AM
:

Angels Camp Housing Community Sold To Senior Living Group

Angels Camp, CA...Foothill Village, an independent living, assisted living and memory care senior living community in Angels Camp, Calif., has been acquired by a partnership between Auerbach Funds, Mello Group LLC and Prado Senior Living. Located at the base of the Sierra Nevada Mountain range, Foothill Village specializes in senior assisted living, with the community also offering independent living and memory care options.





The purchase will allow myriad renovations to take place at Foothill Village, including modernizing common areas, adding additional dining outlets to accommodate a “grab and go” concept, building a lounge that overlooks the Sierra Nevada Mountains, and adding outdoor amenities for residents to take advantage of the California climate.

“We’re excited to become a part of the Angels Camp community, and the fact we were able to complete this purchase despite the ongoing pandemic is a testament to our great team,” said Peter Auerbach, founder and managing partner of Auerbach Funds. “We are confident that, bolstered by our value-add and leasing strategy, we will be able to create a better experience for our tenants and their families while also allowing increased potential for our investors.”

Wyatt Mello, principal of Mello Group LLC, added, “We are eager to be a part of the Calaveras County and Angels Camp community and look forward to fostering meaningful relationships between residents, staff, family members and the larger community.”

This marks the third acquisition since Auerbach Funds announced its first close in mid-October for Auerbach Opportunity Fund III. The fund has a target size of $100 million and is currently open to new investors.

About Mello Group LLC
Mello Group LLC is a California-based family-owned private investment company focusing on real estate investments, development, management, consulting and brokerage.

About Prado Senior Living
Prado Senior Living promotes independence, encourages care, and collaborates with family members and health care providers in an effort to elevate the senior living experience.

About Auerbach Funds
Auerbach Funds is a Charlotte, N.C.-based real estate private equity fund manager. Founded in 2016, Auerbach Funds manages over $300 million in total asset value, comprising over 3.7 million square feet, across three close-ended funds. Auerbach’s opportunistic funds seek to make real estate investments across the U.S. that are distressed, mismanaged or underperforming assets within the multifamily, retail, senior housing and specialty classes.


Comments - Make a comment
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No Subject
Posted on: 2021-01-05 16:35:12   By: Anonymous
 
There is a young teen athlete from Bret Harte very sick and fighting the virus right now. Nothing in the local news. You have to look elsewhere for the truth.

[Reply ]

RE-OPEN CAL NOW
Posted on: 2021-01-05 16:38:12   By: Anonymous
 
You can go, or watch it free online.

COVID IS REAL
But they aren’t telling you the whole story.
Selecting only data and science that supports their political goals, politicians and the media are demonstrating that they don’t trust you to make the right decisions.

They’re treating us all as children.

We’re dedicated to providing you all of the information – the full science and the complete data because we know that Americans can make better decisions about their families than politicians can. Especially when they are fully informed.

https://reopencalnow.com/

[Reply ]

No Subject
Posted on: 2021-01-05 17:24:33   By: Anonymous
 
Sounds like the new owners are hoping to attract seniors from the Bay Area. Not too many locals have the means to pay 4K a month, and that’s if you don’t require assisted care. Still, they took good care of my mother when she was alive.

[Reply ]

    Re:
    Posted on: 2021-01-05 21:20:03   By: Anonymous
     
    Many from the Bay place their parents in the less expensive places in the foothills.

    [Reply ]

No Subject
Posted on: 2021-01-05 17:27:58   By: Anonymous
 
Nice way to enter the community by telling staff and residents your property is distressed and mismanaged. Not exactly team building.

[Reply ]

    Re:
    Posted on: 2021-01-05 18:34:12   By: Anonymous
     
    Sorry whiny lib, they owe nothing to anybody.

    Have fun with your expectations.

    [Reply ]

      Re:
      Posted on: 2021-01-05 19:15:17   By: Anonymous
       
      It is not $4,000 a month. It is cheaper than that. They have had no Covid cases so far. The place in San Andreas has quite a few cases and some deaths. They are understaffed and under paid but the help does the best they can. The changes will be welcome. FU to the politcal and negative comments. Have you ever tried working or going to see loved ones there? Can be tough. There is a couple at Foothill, kids in Vallecito and won't take their calls or see them prior to Covid.

      [Reply ]

        Re: /\/\ Its not $4,000 a month...
        Posted on: 2021-01-05 21:13:15   By: Anonymous
         
        I agree. Now for the assisted living, it might be for the medical care, and that all depends too. When that place was under different ownership and ran by Debbie Ponte, they took really good care of my mom-Imogene F Whipple in the years 2011 and 12 after her #1 and #2 strokes. She originally started off with a nice 2 bedroom apartment in 2008 until her first stroke in January of 2011. They really took good care of her and with a 5-star rating, I give them all 5 stars! My mom passed on at the grand old age of 90+. She really experienced life a lot and saw a lot of things invented and went through a lot of changes especially as a little girl and as a young lady surviving through the Great Depression and the rationing etc. during WW2. She was considered one of many of America's greatest generation. I give them kudos and a lot of respect for that. In their day they knew the true meaning of respect and while young if they strayed away from that concept, they got straightened out really quick by their parents-a good strapping or whipping, and back then no one said anything about it! Of course, now a parent could get sent to jail just for looking at or saying the wrong thing to their kids. That is what's wrong with some of the younger generation today! So some of you can ramble on and I'll keep rambling on. So go ahead and tell me to STFU!

        [Reply ]

    Re:
    Posted on: 2021-01-05 21:21:58   By: Anonymous
     
    Then they sell it to investors by saying what an improved and wonderful place to put your money.

    [Reply ]

      Re:
      Posted on: 2021-01-06 06:53:43   By: Anonymous
       
      Perfect. They can call it Old Retired Redneck Acres. It will be inhabited by Trumpsters who can't change thier Depends anymore, and they keep chitting all over their saddles.

      [Reply ]

        Re:
        Posted on: 2021-01-06 07:33:40   By: Anonymous
         
        Wow, you're a little fuked up in the head there partner. At least the trumpeters wear depends I guess. You dumbacraps smell like you chit in your unwashed clothes and wallow in them.
        Dumb frickin 73 Percentiles

        [Reply ]


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